When trying to find lower-priced insurance, are you frustrated by the number of auto insurance providers that you can choose from? Lot’s of other drivers are too. You have so many choices that it can quickly become more work than you anticipated to find the perfect company for you. Everyone knows Minneapolis is a great city to live in, but inflated auto insurance rates can make it impossible to be able to afford adequate auto insurance coverage limits.
Steps to quoting cheaper Cadillac SRX insurance in Minneapolis
The easiest way to get cheaper Cadillac SRX insurance is to do a yearly price comparison from insurance carriers that sell auto insurance in Minneapolis. You can compare rates by following these steps.
First, get a basic knowledge of what is in your policy and the factors you can control to prevent rate increases. Many rating factors that result in higher prices such as at-fault accidents and poor credit history can be improved by making small lifestyle or driving habit changes. Later in this article we will cover more details to help keep rates affordable and find possible discounts that are available.
Second, request price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from one company like GEICO or Farmers Insurance, while independent agents can provide rate quotes for many different companies.
Third, compare the price quotes to your existing coverage and determine if cheaper SRX coverage is available. If you find a better price and decide to switch, make sure coverage is continuous and does not lapse.
One key aspect when comparing rates is to use similar deductibles and liability limits on every quote request and and to get price quotes from as many different insurance providers as possible. Doing this guarantees a fair rate comparison and a complete rate analysis.
It’s astonishing, but the vast majority of auto insurance customers have been with the same company for over three years, and practically 40% of auto insurance customers have never compared auto insurance rates at all. With the average auto insurance premium being $2,200, Minneapolis drivers could pocket up to $1,039 a year, but they just assume it’s a time-consuming process to find cheap insurance by shopping around.
Smart consumers take time to compare rates quite often because insurance prices are rarely the same from one policy term to another. Just because you had the lowest rate on Cadillac SRX insurance in Minneapolis a few years ago you can probably find a lower rate today. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to the fastest and easiest way to eliminate unnecessary coverages and save money on Cadillac SRX insurance in Minneapolis.
If you are paying for car insurance now, you stand a good chance to be able to get lower rates using the ideas covered in this article. Finding and comparing the best auto insurance policy in Minneapolis is simple if you know the tricks. But Minnesota consumers must know how companies sell insurance online and apply this information to your search.
Cheaper rates by taking advantage of discounts
Not too many consumers would say insurance is affordable, but there could be significant discounts that could drop your premiums quite a bit. Some trigger automatically at quote time, but a few must be asked about prior to receiving the credit.
- Good Student – A discount for being a good student may save you up to 25%. This discount can apply until age 25.
- Onboard Data Collection – Drivers who elect to allow data collection to spy on driving habits by using a telematics device like Allstate’s Drivewise might get better premium rates as long as they are good drivers.
- Save with More Vehicles Insured – Buying a policy with multiple cars on one policy can reduce rates for all insured vehicles.
- Professional Organizations – Joining a civic or occupational organization in Minneapolis is a good way to get lower rates on insurance.
- Early Renewal Discounts – A few insurance companies offer discounts for switching to them early. It could save around 10% when you buy Minneapolis auto insurance online.
- Discount for Passive Restraints – Vehicles equipped with air bags or motorized seat belts may get savings of more than 20%.
- Early Payment Discounts – By making one initial payment rather than paying monthly you could save 5% or more.
- Waiver for an Accident – This one is not really a discount per se, but companies like Progressive and Allstate will allow you to have one accident before your rates go up so long as you haven’t had any claims prior to being involved in the accident.
- Discount for Low Mileage – Low annual miles can earn lower premium rates due to less chance of an accident.
- E-sign Discounts – Some companies will give a small break just for signing your application on their website.
It’s important to understand that most discounts do not apply to all coverage premiums. Most cut the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like you could get a free insurance policy, companies don’t profit that way.
The chart below visualizes the comparison of Cadillac SRX annual premium costs with and without policy discounts. The prices are based on a male driver, no claims or violations, Minnesota state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, multi-car, marriage, safe-driver, and claim-free discounts applied.
If you would like to see a list of insurance companies with discount rates in Minneapolis, click here to view.
How to compare Cadillac SRX insurance price quotes in Minneapolis
All major insurance companies allow consumers to get price estimates direct online. Doing online quotes for Cadillac SRX insurance in Minneapolis is possible for anyone as you just enter your coverage information as detailed in the form. After the form is submitted, their rating system automatically orders your driving and credit reports and generates pricing information.
Getting online rates for Cadillac SRX insurance in Minneapolis makes comparing rates easy, and it’s also necessary to have as many quotes as possible if you want to get the lowest payment on insurance.
To find out what other companies charge, visit the companies below or click here to submit a quote request to multiple companies at once. If you have coverage now, it’s recommended you type in the coverage information identical to your current policy. Doing this guarantees you will be getting comparison quotes for similar coverage.
The companies shown below are ready to provide quotes in Minneapolis, MN. If multiple companies are listed, we recommend you visit several of them to get the cheapest price.
Cadillac SRX detailed coverage information
The rate information shown next outlines detailed analysis of insurance costs for Cadillac SRX models. Learning a little about how rate quotes are established is important for drivers to make informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| SRX 2WD | $238 | $476 | $358 | $22 | $108 | $1,202 | $100 |
| SRX Luxury 2WD | $238 | $550 | $358 | $22 | $108 | $1,276 | $106 |
| SRX Luxury AWD | $238 | $550 | $358 | $22 | $108 | $1,276 | $106 |
| SRX Performance 2WD | $264 | $550 | $358 | $22 | $108 | $1,302 | $109 |
| SRX Performance AWD | $264 | $550 | $358 | $22 | $108 | $1,302 | $109 |
| SRX Premium 2WD | $264 | $550 | $358 | $22 | $108 | $1,302 | $109 |
| SRX Premium AWD | $264 | $550 | $358 | $22 | $108 | $1,302 | $109 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rate information does not factor in your specific Minneapolis location which can change premium rates considerably.
Raise deductibles and save
When comparing insurance rates, the most common question is how high should the deductibles for physical damage be. The comparison tables below help summarize the difference in cost when you choose different comp and collision deductibles. The first rate estimation uses a $100 deductible and the second pricing table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| SRX 2WD | $308 | $580 | $318 | $18 | $94 | $1,343 | $112 |
| SRX Luxury 2WD | $308 | $668 | $318 | $18 | $94 | $1,431 | $119 |
| SRX Luxury AWD | $308 | $668 | $318 | $18 | $94 | $1,431 | $119 |
| SRX Performance 2WD | $344 | $668 | $318 | $18 | $94 | $1,467 | $122 |
| SRX Performance AWD | $344 | $668 | $318 | $18 | $94 | $1,467 | $122 |
| SRX Premium 2WD | $344 | $668 | $318 | $18 | $94 | $1,467 | $122 |
| SRX Premium AWD | $344 | $668 | $318 | $18 | $94 | $1,467 | $122 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| SRX 2WD | $224 | $392 | $318 | $18 | $94 | $1,046 | $87 |
| SRX Luxury 2WD | $224 | $452 | $318 | $18 | $94 | $1,106 | $92 |
| SRX Luxury AWD | $224 | $452 | $318 | $18 | $94 | $1,106 | $92 |
| SRX Performance 2WD | $250 | $452 | $318 | $18 | $94 | $1,132 | $94 |
| SRX Performance AWD | $250 | $452 | $318 | $18 | $94 | $1,132 | $94 |
| SRX Premium 2WD | $250 | $452 | $318 | $18 | $94 | $1,132 | $94 |
| SRX Premium AWD | $250 | $452 | $318 | $18 | $94 | $1,132 | $94 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rate information does not factor in zip code location which can lower or raise premiums considerably.
Based on the figures above, using a $100 deductible would cost the average driver about $28 more each month or $336 each year across all Cadillac SRX models than selecting the higher $500 deductible. Since the policyholder would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you go at least 14 months between claims, you would save money if you elect the higher deductible.
Calculate savings of higher deductibles
| Average monthly premium for $100 deductibles: | $120 |
| Average monthly premium for $500 deductibles (subtract): | – $92 |
| Monthly savings from raising deductible: | $28 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $28 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 14 months |
An important thing to remember is that raising deductibles means you will have to pay more out-of-pocket if you have a claim. You need some non-essential savings in order to pay the deductible for vehicle repair.
Safe drivers pay less for insurance
The illustration below illustrates how speeding tickets and at-fault collisions drive up Cadillac SRX insurance costs for different age groups. The rates are based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.
Comparison of insurance rates by age and gender in Minneapolis
The example below shows the comparison of Cadillac SRX yearly insurance costs for male and female drivers. The rates are based on a clean driving record, no claims, full coverage, $250 deductibles, drivers are not married, and no additional discounts are factored in.
Rate difference between full and liability-only coverage
The information below compares Cadillac SRX car insurance costs with and without full coverage. The data is based on no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are applied to the premium.
When to drop full coverage
There is no set guideline that works best for making the decision to drop physical damage coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s assume your Cadillac SRX replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $4,000 after the policy deductible has been paid. If you are paying in excess of $400 a year to have full coverage, then you may want to consider only buying liability coverage.
There are some situations where only buying liability is not financially feasible. If you still owe money on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
Learn How to Quote Insurance for Less
Many different elements are taken into consideration when you get a price on insurance. Some are pretty understandable such as your driving history, but some are less apparent such as whether you are married or your financial responsibility. A large part of saving on insurance is knowing some of the elements that come into play when calculating the level of your policy premiums. When you understand what impacts premium levels, this allows you to make educated decisions that could result in lower rates.
Better premiums on cars with good safety ratings – Safe vehicles tend to have lower insurance rates. Safer cars reduce injuries and lower injury rates means less claims paid and thus lower rates.
Marriage is a factor – Having a spouse may save some money on insurance. It means you’re more mature than a single person it has been statistically shown that being married results in fewer claims.
Drivers with good credit save on insurance – Having a bad credit score can be an important factor in calculating your insurance rates. If your credit score is not that good, you may save money insuring your Cadillac SRX if you improve your credit rating. Consumers who have high credit scores tend to file fewer claims and have better driving records than drivers who have bad credit.
Put fewer miles on your vehicle – The more miles you rack up on your Cadillac in a year’s time the more it will cost to insure it. A lot of companies calculate prices based upon how the vehicle is primarily used. Cars left parked in the garage receive lower rates than those that get driven frequently. Improper usage on your SRX may be costing you higher rates. Ask your agent if your insurance coverage states the correct usage, because improper ratings can cost you money.
Cheaper insurance rates for prior coverage – Letting your insurance expire can be a sure-fire way to bump up your insurance costs. And not only will insurance be more expensive, the inability to provide proof of insurance may result in fines and jail time. You will then be forced to provide proof of insurance in the form of an SR-22 filing with the Minnesota motor vehicle department.
Keep premiums low by being claim-free – If you are a frequent claim filer, you can look forward to either higher rates or even cancellation. Car insurance companies in Minnesota provide the best rates to policyholders who only file infrequent claims. Insurance coverage is meant to be used in the event of larger claims.
Cadillac SRX claim data – Insurers use data from past claims as a tool for profitable underwriting. Models that the statistics show to have high amounts or severity of claims will have a higher cost to insure. The next table shows the loss history for Cadillac SRX vehicles.
For each type of coverage, the claim probability for all vehicles, as an average, equals 100. Numbers below 100 represent a good loss history, while values over 100 point to more frequent losses or an increased likelihood of larger losses.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Cadillac SRX 4dr 2WD | 103 | 101 | 84 | 80 | 82 | 91 |
| Cadillac SRX 4dr 4WD | 109 | 106 | 103 | 78 | 75 | 83 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When to get professional advice
When selecting the best car insurance coverage for your personal vehicles, there isn’t really a one size fits all plan. Each situation is unique and your policy should reflect that. For instance, these questions can aid in determining if your situation would benefit from professional advice.
- Do I need replacement cost coverage?
- Should I get collision insurance on every vehicle?
- Why are teen drivers so expensive to add on to my policy?
- Should I buy more coverage than the required Minnesota minimum liability coverage?
- Does my Cadillac SRX qualify for pleasure use?
- How much will a speeding ticket raise my rates?
If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier
Car insurance agents near you
Certain consumers would prefer to have an agent’s advice and doing so can bring peace of mind One of the best bonuses of comparing rates online is you may find better rates and still choose a local agent. And supporting local agents is still important in Minneapolis.
To help locate an agent, after submitting this form (opens in new window), your insurance coverage information is immediately sent to companies in Minneapolis that can provide free Minneapolis auto insurance quotes for your insurance coverage. You don’t have to search for an agent since rate quotes are delivered instantly to you. It’s the lowest rates and work with a local agent. In the event you want to quote rates from one company in particular, don’t hesitate to jump over to their website and submit a quote form there.
Finding a good insurance company requires more thought than just the premium amount. Ask your prospective agent these questions:
- Does the agent have a valid license to sell insurance in Minnesota?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- What is the agency’s Better Business Bureau rating?
- Will their companies depreciate repairs to your car based on the mileage?
- How much will you save each year by using a higher deductible?
After getting good responses to any questions you may have and low cost Cadillac SRX insurance quotes, it’s possible that you found an insurance company that meets the criteria to service your policy. Just keep in mind policyholders can terminate coverage whenever you choose to so don’t assume that you are obligated to the insurance policy with no way to switch.
Protect your Cadillac vehicle and other assets
Despite the high cost, auto insurance is most likely required but also gives you several important benefits.
- The majority of states have minimum liability requirements which means state laws require a specific minimum amount of liability insurance coverage in order to drive the car. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your SRX has a loan, almost all lenders will make it mandatory that you buy full coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank may buy a policy for your Cadillac at an extremely high rate and require you to pay a much higher amount than you were paying before.
- Auto insurance protects both your Cadillac SRX and your assets. Insurance will also pay for many types of medical costs for not only you but also any passengers injured in an accident. Liability insurance will also pay to defend you if you cause an accident and are sued. If your Cadillac gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car definitely exceed the price paid, especially for larger claims. Today the average American driver overpays more than $825 a year so it’s recommended you shop around at every renewal to make sure the price is not too high.
More effort can pay off
When buying insurance coverage, don’t be tempted to sacrifice coverage to reduce premiums. In too many instances, consumers will sacrifice collision coverage to discover at claim time they didn’t have enough coverage. The aim is to find the BEST coverage at the best possible price while still protecting your assets.
Cheap Cadillac SRX insurance in Minneapolis can be sourced on the web and from local insurance agents, and you need to comparison shop both to have the best selection. A few companies do not offer online quoting and many times these smaller companies prefer to sell through independent agents.
How to buy lower priced Cadillac SRX insurance in Minneapolis
The preferred way to save on Cadillac SRX insurance is to compare prices regularly from companies who sell auto insurance in Minneapolis.
- Get an understanding of the coverage provided by your policy and the steps you can take to lower rates. Many factors that drive up the price like careless driving and an unacceptable credit score can be remedied by paying attention to minor details.
- Compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from a single company like GEICO and Allstate, while independent agents can provide rate quotes for many different companies.
- Compare the new rates to your existing rates and determine if cheaper SRX coverage is available in Minneapolis. If you can save money and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
- Give notification to your agent or company to cancel your current auto insurance policy and submit a down payment and signed policy application to the new company. Be sure to keep your new proof of insurance paperwork in an easily accessible location in your vehicle.
One important bit of advice is that you use the same coverage limits and deductibles on every quote request and and to get prices from all possible companies. Doing this provides a fair rate comparison and a complete rate analysis.
Helpful resources
- Understanding your Policy (NAIC.org)
- Who Has Affordable Auto Insurance Rates for 16 Year Olds in Minneapolis? (FAQ)
- How Much is Auto Insurance for a Toyota Tacoma in Minneapolis? (FAQ)
- How Much are Minneapolis Auto Insurance Rates for a Ford Fusion? (FAQ)
- How Much are Auto Insurance Quotes for Drivers Over Age 70 in Minneapolis? (FAQ)
- Who Has Affordable Minneapolis Auto Insurance Rates for Immigrants? (FAQ)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Top Signs Your Brakes are Giving Out (State Farm)